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Jan 18, 2013

New Korean Government Ministries under President Park

The Park Administration has proposed the creation of a new ministry
called, potentially, the Ministry of Future, Creation and Science
(MFCS). The name sounds a little better in the Korean language.

The
MFCS will be, primarily, involved in promoting investment in research
and development. I am hopeful that the MFCS or whatever it will finally
be named will not be a tool to simply return taxes to conglomerates.
Korea is in desperate need of growth in the SME sector and new
businesses to compete with the ubiquitous and, hopefully, the MFCS can
play a vital role in satisfying this need.

Other proposed changes in the Korean Administration include:

Creating the post of Deputy Prime Minister of Economy

Creation of a Ministry of Maritime Affairs and Fisheries

Trade Section of Ministry of Foreign Affairs moved from MOFAT and merged into the Ministry of Knowledge Economy

Korean Food and Drug Administration moved from the Ministry of Health and Welfare to the Office of the Prime Minister

Creation of the Social Security Commission

Establishing a National Security Office in Cheong Wha Dae

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SeanHayes@ipglegal.com

IPG is engaged in projects for companies and entrepreneurs doing business in Bangladesh, Cambodia, China, Korea, Laos, Myanmar, the Philippines, Vietnam and the U.S. www.ipglegal.com

AsiaLaw Leading Lawyer in Korea: Sean Hayes

About SEAN C. HAYES

NY Attorney Sean Hayes grew up in Connecticut and New York to an Irish-immigrant father and Italian mother. He is a U.S. and Irish National. He is a permanent resident of Korea.

Sean Hayes is the first and only non-Korean to be employed as an attorney by the Korean Court System and one of the first non-Koreans to be a full-time regular member of a Korean law faculty.

He is rated as one of only two non-Koreans as a Leading Attorney in Korea by LawAsia. He is, also, rated a leading attorney by numerous other attorney rating services.

He is known over his 14+ years in Korea for his aggressive advocacy and candid NY-style street-smart advice.

Sean is, also, one of the few attorneys in Asia that has experience managing non-consulting companies and working as an HR Manager. He worked as an interim General Manager/Director for Oil & Gas, New Tech, Pharmaceutical, Franchise and Manufacturing companies.

He regularly appears in and is quoted by international media organizations including the NY Times, Wall Street Journal and international law journals.

In his free time Sean enjoys playing golf, drinking beer and carousing with his rowdy friends.

ABOUT IPG Sean's firm is, often, chosen over the ubiquitous Korean Law Firms when un-conflicted and aggressive representation is essential for success.

Sean and his Firm have been recognized by numerous legal publications and rating agencies.

Sean and IPG have, also, been involved in some of the most noteworthy contentious matters via arbitration and litigation in Asia in Korea, China, Vietnam, Laos, Myanmar, Bangladesh, Cambodia, the Philippines and the United States.